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Uncertainty became a commodity as Trump ignored his economic advisors in A Tale of Two Stephens [1]
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Date: 2025-04-10
Initially Peter Navarro got the blame for the current disaster that is Trump’s trade policy, but the insanity now reveals its arcane origin. Trump or his Russian handlers get more of the blame. Trump continues to eat the chess pieces.
"Trump is stupid, erratic and weak," Paul Krugman, one of the country's most prominent economists and a Nobel laureate, wrote. [image or embed]
Instead of gradual 2% increases, he dropped a bomb: • 54% on China • 25% on South Korea • 24% on Japan, & 20% on EU • 10% minimum on everyone else
Stephen Miran served as an advisor of economic policy for the Department of the Treasury from 2020 to 2021, during Steven Mnuchin's tenure as secretary of the Treasury.[4]
Miran was critical of Federal Reserve chair Jerome Powell's recommendation of a major stimulus package in 2020.[7]
In July 2024, Miran co-authored a paper with Iranian-American economist Nouriel Roubini accusing the Department of the Treasury of reducing the share of long-term notes and bonds, lowering yields, and prolonging inflation.[8]
In November 2024, Miran published A User's Guide to Restructuring the Global Trading System,[9] examining tools for reshaping international trade following Donald Trump's reelection. The paper analyzes tariffs and currency strategies in the context of dollar overvaluation, presenting potential market consequences. Analysts have hypothesized that the tariffs in the second Trump administration could be following this paper to end in the so-called "Mar-a-Lago Accord".[10]
Miran's views align with the protectionist economic philosophy of Trump, and he has espoused the use of tariffs as a tool to reduce trade deficits and induce currency revaluations against the dollar. Miran has asserted that the "economic consensus" against tariffs is "wrong," and claims that most tariff models do not account for trade deficits.[11]
en.wikipedia.org/…
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